B. Riley Initiates Coverage on Real Brokerage (NASDAQ:REAX)

Research analysts at B. Riley assumed coverage on shares of Real Brokerage (NASDAQ:REAX - Get Free Report) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $7.00 price target on the stock. B. Riley's price target suggests a potential upside of 70.73% from the stock's previous close.

Separately, Jones Trading reiterated a "buy" rating and set a $6.00 price target on shares of Real Brokerage in a report on Thursday, March 6th.

Real Brokerage Trading Up 2.0%

REAX opened at $4.10 on Wednesday. Real Brokerage has a 12 month low of $3.55 and a 12 month high of $6.75. The business's 50-day moving average price is $4.29 and its 200-day moving average price is $4.56. The company has a market cap of $810.79 million, a P/E ratio of -58.57 and a beta of 1.04.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Real Brokerage had a negative return on equity of 49.13% and a negative net margin of 1.09%. The business had revenue of $353.98 million for the quarter, compared to analyst estimates of $332.92 million. Equities research analysts forecast that Real Brokerage will post -0.1 earnings per share for the current fiscal year.

Real Brokerage declared that its Board of Directors has initiated a share repurchase plan on Friday, May 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Real Brokerage by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 254,242 shares of the company's stock valued at $1,032,000 after buying an additional 3,436 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Real Brokerage by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,673 shares of the company's stock worth $246,000 after purchasing an additional 3,746 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Real Brokerage by 4.1% in the 4th quarter. Rhumbline Advisers now owns 124,324 shares of the company's stock worth $572,000 after purchasing an additional 4,906 shares during the period. Blair William & Co. IL lifted its holdings in Real Brokerage by 20.0% in the fourth quarter. Blair William & Co. IL now owns 30,000 shares of the company's stock worth $138,000 after buying an additional 5,000 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Real Brokerage in the 4th quarter worth approximately $25,000. Institutional investors own 53.28% of the company's stock.

About Real Brokerage

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.

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